Growth and change are two realities that no business can afford to ignore. Sustainable strategies that help your business innovate and grow while reducing costs and leveraging talent are just as essential as having the agility and creativity to respond to rapidly changing environments.
By taking time to understand your business and the issues and challenges you are facing, our Advisory teams use local and global knowledge to help you challenge conventions and introduce and deliver strategies that work specifically for you.
Today’s business world is facing a new reality driven by economic unpredictability, disruptive technology, globalization and unprecedented competition. In such an environment, traditional methods of gaining a competitive advantage, such as size or personal wealth, are no longer enough. A company’s ability to recognize this new reality, adapt to the changing conditions and make bold changes is increasingly essential to maintain a competitive advantage. This means that in the future, more comprehensive change programs will be increasingly necessary. Many board members have explicitly given CEOs and executives a mandate for change processes. Almost all managers are aware of the need to lead successful companies to even better performance.
Despite numerous investments, the results of organizational change initiatives are mixed (evidence suggests that 50% of change programs fail to achieve their goal; for more complex programs the failure rate is 75%). Indeed, the traditional approach to change management itself is in dire need of a major overhaul.
It is therefore important for managers to identify the stumbling blocks that bring down transformation processes. Global surveys have identified two main factors that cause change processes to stumble:
Companies that want to be successful must aggressively overcome these challenges: through a comprehensive and structured change approach that includes the optimal combination of processes, management, key performance indicators and behaviors. The development of superior, lasting change competencies also translates into a competitive advantage. Companies that are willing and able to take on the challenges associated with change processes are better equipped to master future changes. The lack of clearly defined milestones as well as insufficient or non-existent commitment of the management are the main causes when change processes fail. This realisation is becoming more and more widespread.
Active management, speed, employee involvement and behavioral change are essential for today’s change management. Discover Quintaernum’s latest insights and learn how to implement and establish change.
Sustainability has become a crucial issue for companies. For 65% of managers, sustainability is now at the top of the management agenda. In 2010, only 46% said so. In today’s environment, companies that know how to do more with less gain a competitive edge. Successful companies make sustainability an integral part of their business models and management processes in order to benefit from growth opportunities, resource advantages and cost savings.
What are good practices for the inclusion of the circular economy? How are investors’ perspectives on sustainability changing? And how do companies in different industries strengthen competitive advantages through sustainability?
The digital change has fully captured the business world and is currently one of the core challenges for companies and societies. However, this trend does not only mean radical change, but also opens up new opportunities for increased automation of various business processes by software robots. One consequence of this is already today the increased use of robots that carry out recurring activities in an automated, faster and error-free manner.
The digital change has fully captured the business world and is currently one of the core challenges for companies and societies. However, this trend does not only mean radical change, but also opens up new opportunities for increased automation of various business processes by software robots. One consequence of this is already today the increased use of robots that carry out recurring activities in an automated way. There seem to be no limits to the range of applications for robots – from simple support activities and accounting services to the complete and independent execution of complex decisions using artificial intelligence (AI), many things are now possible.
At the same time, the scope and complexity of regulatory requirements, including new reporting obligations, are constantly increasing and companies have to meet them. With regard to the use of software automation, it is often problematic for companies to apply the regulatory principles to be complied with to the use of robots and to fulfil them appropriately. The delimitation of responsibilities, ensuring traceability, and control and reporting obligations are only part of the requirements. Especially for sensitive activities with financial implications, this can quickly lead to an enormous compliance risk.